Since the merge of Ethereum (ETH) has been awaited with bated breath by the crypto community, the network’s speculative action has skyrocketed.
Provajder uvida u tržište Glassnode objašnjeno:
“Špekulativna akcija Ethereuma se nastavlja, sa preko 6.12 milijardi dolara izvanrednog otvorenog interesa za opcije poziva. Put opcije iznose mnogo manjih 1.5 milijardi dolara, što čini omjer Put/Call od 0.25.”
Izvor: Glassnode
Call options entail buying, whereas put options signify selling. Therefore, based on open interest being depicted in the ETH network, buying pressure outways selling, thanks to the much-anticipated merge event skriveno za 15. septembar.
Despite the merge being elusive for a couple of years, it is anticipated to be the largest software upgrade in the Ethereum ecosystem because it will change the consensus mechanism from proof-of-work (PoW) to proof-of-stake (PoS).
Therefore, various experts and institutions believe this event will heighten Ethereum’s quest to be a deflationary asset.
For instance, American multinational investment bank Citigroup or Citi recently pointed out that the merge would slash the overall Ether issuance by 4.2% annually, making it deflationary, Blockchain.News prijavili.
Therefore, the merge seems to have made Ethereum be watched with a keen eye, given that transaction volume hit a monthly high. Glassnode stated:
“Ethereum Transaction Volume (7d MA) just reached a 1-month high of 80,910.738 ETH. Previous 1-month high of 80,814.148 ETH was observed on 02 September 2022.”
Izvor: Glassnode
Furthermore, Ethereum address activity has been scaling heights, with the number of addresses držanje more than 100 ETH, recording an 18-month high.
Izvor: Glassnode
ETH was up by 6.7% in the last 24 hours to hit $1,622 during intraday trading, according to CoinMarketCap.
With the Bellatrix upgrade having already set the ball rolling for the merge, it remains to be seen how the second-largest cryptocurrency plays out after this event.
Izvor slike: Shutterstock
Source: https://blockchain.news/analysis/ethereum-speculative-action-goes-through-the-roof-as-the-merge-edges-closer